Shipping firms cautiously welcome reopening of Strait of Hormuz

LONDON: Global shipping companies have cautiously welcomed Iran’s announcement to reopen the strategically vital Strait of Hormuz to commercial traffic after nearly seven weeks of closure, but warned that significant risks remain.

The closure of the waterway by Iranian forces had stranded hundreds of vessels in the Gulf, disrupted global supply chains, and sharply increased shipping costs, as captains avoided the area due to fears of attacks and sea mines.

A spokesperson for German shipping giant Hapag-Lloyd described the reopening as “in general… good news,” but stressed that critical operational details were still missing.

“One thousand ships cannot just go now to the entrance of the strait, that will be chaos,” said spokesperson Nils Haupt, highlighting the need for clear instructions on navigation routes and sequencing of vessel movement.

He added that the company would be ready to resume operations soon if clarity is provided over the weekend.

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Data from Bloomberg showed that around 770 commodity-carrying vessels were inside the Gulf on Thursday, including approximately 360 oil and gas tankers. Prior to the conflict, about 120 ships crossed the strait daily, according to maritime publication Lloyd’s List.

However, industry bodies urged caution despite the announcement.

Jakob Larsen, chief security officer at BIMCO, said claims that the waterway was fully open were “inaccurate,” citing uncertainty over possible mine threats in key shipping lanes.

“The status of mine threats in the traffic separation scheme is unclear,” he said, advising companies to consider avoiding the area for now.

Similarly, International Chamber of Shipping Secretary General Thomas Kazakos described the move as “a positive step” but noted that uncertainty remained over its practical implications.

He said the announcement offered “a cautious measure of reassurance” to shipping companies and thousands of stranded seafarers, but stressed the need for a sustained return to safe navigation.

“It is essential that it marks the beginning of a broader and more durable return… to freedom of navigation in one of the world’s most critical maritime corridors,” he said.

The development comes amid ongoing diplomatic efforts to stabilise the region following weeks of conflict, with the situation in the Gulf continuing to pose risks to global energy supplies and maritime trade.